Sai Urja Indo Ventures

LISTED

IPO Date: 25 Sept - 29 Sept 2026

Listing Date: 5 Oct 2026

Price Range

Rs.107 - Rs.113

Issue Size

25 Cr

Min Investment

₹2,56,800

2 lots minimum (SEBI rule for SME)

Min Application

2400 Shares

1200 per lot × 2

View IPO Document

Schedule of Sai Urja Indo Ventures

Issue open date
25 Sept 2026
Issue close date
29 Sept 2026
UPI mandate deadline
29 Sept 2026 (5 PM)
Allotment finalization
30 Sept 2026
Share credit
1 Oct 2026
Listing date
5 Oct 2026
Mandate end date
14 Oct 2026

Issue size

Funds Raised in the IPO	Amount
Overall	25 Cr
Fresh Issue	20.67 Cr
Offer for Sale	4.28 Cr

Allotment Details^New

Allotment Timeline	Details
Allotment Date	30 Sept 2026
Allotment Link	{Link}

Grey Market Premium

New

Grey Market Premium (GMP) is the premium at which the shares are traded in the grey market. It gives a fair idea about the listing price of the IPO shares. The GMP can be positive or negative based on the demand and supply of the shares in the grey market.

Date	IPO Price	GMP	Est. Listing Price
5 Oct 2026Latest	₹113	₹11	₹124(+9.73%)
4 Oct 2026	₹113	₹32	₹145(+28.32%)
3 Oct 2026	₹113	₹17	₹130(+15.04%)
2 Oct 2026	₹113	₹10	₹123(+8.85%)
1 Oct 2026	₹113	₹8	₹121(+7.08%)
30 Sept 2026	₹113	₹0	₹113(0%)
29 Sept 2026	₹113	₹0	₹113(0%)
28 Sept 2026	₹113	₹0	₹113(0%)
27 Sept 2026	₹113	₹0	₹113(0%)
26 Sept 2026	₹113	₹0	₹113(0%)
25 Sept 2026	₹113	₹0	₹113(0%)
24 Sept 2026	₹113	₹0	₹113(0%)
23 Sept 2026	₹113	₹0	₹113(0%)
22 Sept 2026	₹113	₹0	₹113(0%)

Performance Sai Urja Indo Ventures

Issue Price	Listing Gain	Current Market Price	P/L
Rs.107 - Rs.113	₹ 134 (18.41%)	₹ 174.75	54.65%

About Sai Urja Indo Ventures

Sai Urja Indo Ventures is an operation and maintenance (O&M) services company for industrial plants, primarily in the power generation industry, as well as the iron and steel and agrochemical industries. Its services cover electrical, mechanical, and control and instrumentation maintenance, along with operations of boiler-turbine-generator units, coal handling plants, and merry-go-round systems in power plants. The company also provides industrial housekeeping, equipment overhauls, and skilled and unskilled manpower supply. Its services are provided through annual maintenance contracts, performance-based contracts, manpower supply contracts, and short-term bill of quantity contracts. Over the last three years, the company has served 21 locations across nine states and executed more than 45 projects as of June 15, 2026. It holds valid electrical licences in Maharashtra, Uttar Pradesh, Bihar, Jharkhand, and Madhya Pradesh. The company operates from its registered office in Chandrapur and corporate office in Nagpur.

Founded in	2012
Managing director	Mr Harsh Ajaykumar Mittal
Parent organization

Financial Overview

Strengths

1
Long-standing track record in providing thermal power plant operation and maintenance services.
2
Strong and growing order book value providing clear visibility on future revenues.
3
Established long-term client relationships primarily with Public Sector Undertakings.
4
Experienced promoter-led management team supported by a skilled technical workforce.
5
Proven capability to execute multi-disciplinary industrial contracts across various geographical regions.

Risks

1
High revenue concentration with top 10 clients accounting for over 99% of total revenues.
2
Significant business reliance on contracts awarded by Public Sector Undertakings.
3
High workforce attrition rates can impact operational stability and project completion.
4
Substantial working capital requirements lead to high cash flow vulnerability.
5
Heavy revenue dependence on companies operating within the thermal power generation sector.

Subscription Figures

Category	Subscription (No. of times)
Qualified Institutional Buyers (QIBs)	N/A
Non-Institutional Investors (NIIs)	0.07
Retail Individual Investors (RIIs)	0.05
Employee	N/A
Total	0.04